79% of SBA 7(a) loan proceeds go toward business acquisition or commercial real estate, making this the Small Business Administration's flagship program for growth-stage companies in Eugene and the surrounding River Road, Glenwood, and Coburg corridors.
SBA loans
An SBA 7(a) business loan is a federally guaranteed term loan offering up to $5 million in capital with repayment periods stretching to 25 years for real estate and 10 years for equipment or working capital. Because the SBA backstops a portion of each loan, participating lenders extend credit to businesses that might not qualify for conventional bank financing. Myrtle Advances brokers SBA 7(a) loans in Eugene, OR by matching your application to the most suitable lender in our network, then guiding you through underwriting, collateral documentation, and closing.
SBA loans
SBA 7(a) loan qualifications hinge on creditworthiness, cash flow, and the owner's ability to inject equity. Lenders typically look for a personal credit score above 680, two years of profitable operations, and a debt-service coverage ratio that proves the business generates enough income to cover existing obligations plus the new loan payment. The SBA 7(a) loan requirements also mandate that your company operates for profit, does business in the United States, and falls within the Administration's size standards. Eugene businesses near the University of Oregon district and those along the Beltline corridor often use 7(a) financing to acquire competitor practices, buy owner-occupied warehouses, or fund multi-year expansion projects that need patient capital.
How it works
Small business administration 7a loan proceeds finance acquisitions, renovations, inventory buildup, debt refinancing, and franchise purchases. A Eugene food distributor based near the Willamette River, for example, might deploy 7(a) funds to purchase a cold-storage facility and refrigerated delivery vans in a single closing. To apply, you will provide three years of business and personal tax returns, interim financial statements, a narrative explaining the use of funds, and a personal financial statement. Myrtle Advances packages every document to meet SBA 7a loan guidelines, submits to multiple lenders simultaneously, and negotiates terms on your behalf. Our office at 911 Country Club Rd, Eugene, OR 97401 keeps every file local; call (541) 454-9689 to start your application.
Explore our full suite of commercial financing options in Eugene, compare equipment financing for shorter-term needs, or review working capital solutions if you need flexible access to funds.
Serving the Eugene area
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Common questions
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